There is no reason for going public except to raise cash and I had other sources. All three of them were in the black in less than 12 months after starting them (not including my salary which I didn't take the first two years. As a US company I did business based in the US but two of them did business in foreign countries. I didn't screw up with the SEC so they didn't factor in as a problem. Since they were all private companies about the only way I could have had problems with the SEC was to have had too many stockholders and I never came close to that problem.
I didn't buy out any on-going businesses because it wouldn't have been profitable. I didn't want any under the table partners. All three were built from scratch.
All three were incorporated.
The primary reason that most penny stocks are floated publicly is so the the person starting them up can skim off a lot of money from those that invest in them. They seldom have valid business plans and so much of the initial capital raised by selling stock is used up in administrative costs, that the chances of them really making it are slim. Small businesses that make it usually keep overhead to the bare minimum until the business is at a point where it can support it. Penny stocks are usually run in exactly the opposite way.
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